Rerinvest.ca
& INSURANCE SERVICES LTD. R. E. Reynolds Investments

www.rerinvest.ca

Working Towards Life's Solutions ®
Richard Reynolds CLU ChFC Chartered Life Underwriter Chartered Financial Consultant Robert Reynolds CFP, GBA "doing business as" HMR Employee Benefits Ltd.
Employee Benefits Plan Collateral Life as a tax deduction
Contact Us: Please contact us if you have questions or would like us to prepare a custom service package based on your needs.
R. E. Reynolds Investments & INSURANCE SERVICES LTD.
Hours: 9:00 AM to 5:00 PM Monday to Friday appointments are suggested
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©Copyright 2021 HIDEF Productions Inc. Tel : Rick Reynolds (250) 881-2423 email: info@rerinvest.ca Victoria Office, 670 Newport Ave Victoria, BC V8S 5C7 North island Office, 3713 Shoreline Drive, Campbell River, B.C. V9H 1L8 Rob Reynolds "doing business as" HMR Employee Benefits Ltd. Tel : Rob Reynolds (250) 220-0495 (250) 592-4614 email: rob@hmrinsurance.ca Website: hmrinsurance.ca
Collateral Life Insurance (as a tax deduction) Are you a Key person to your businesses success? If so, and you purchase or own Term Life Insurance or Disability Protection through your company then the insurance premiums can be tax deductable. Life insurance premiums are only tax deductable if they are collaterally assigned to an established Lender as a bank or credit union.﷯ Here are the steps: • The policy must be assigned to the lender • The Lender must be a “Restricted Financial Institution”, a chartered bank or credit union. • The Interest charged on the loan must be for business purposes. • The Lender needs to make a formal request “A letter” requesting term life insurance be put in place to cover of the debt in the event the Key person dies or becomes disabled. Insuring a major Shareholder or Key person can ensure the survival of the business enterprise and the premiums can be the deductable at the same time. Contact Rick Reynolds CFP CLU Ch.F.C.
Shareholder Buyout - Insurance HMR Insurance Services LTD Employee Benefit Plan Eye on the Economy